MIRA INFORM REPORT

 

 

Report Date :

28.06.2013

 

IDENTIFICATION DETAILS

 

Name :

ACE OVERSEAS

 

 

Registered Office :

Pokhra Industrial Area Pokhra 10

 

 

Country :

Nepal

 

 

Date of Incorporation :

05.07.2007

 

 

Legal Form :

Proprietory

 

 

Line of Business :

Trader and Importer of Hydraulic Shearing Machine, Fashion Sticker, Shower Room, Mechanical Seals, Forklift, Hair, LED Bulbs, Led Light Bulb

 

 

No. of Employees :

15

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NEPAL - ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of feasible capacity, but political instability hampers foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, civil strife and labor unrest, and its susceptibility to natural disaster.

Source : CIA

Company name and address

 

Ace Overseas

 

 

Address

Pokhra Industrial Area

City

Pokhra 10

Country

Nepal

Phone

977-61-551524 / 977-61-520609

Mobile

9856022609

Email

Binay703@hotmail.com

 

 

Company information

 

Year Established                                   :           05-07-2007

 

Legal Status                                          :           PROPRIETORY

 

Name of Proprietor                                :           Mr. Biney Thapa

 

Auditors                                                :           B.K.Karki & Co. Kathmandu, Nepal

 

Staff                                                     :           15 nos.

                                               

Bankers                                                :           Everest Bank ltd

                                                                        Pokhra, Nepal

 

           

Office Space                                        :           1200 sq.ft. (Leasehold)

 

Business                                                 :         Trader and Importer of Hydraulic Shearing Machine, Fashion   Sticker, Shower Room, Mechanical Seals, Forklift, Hair, LED Bulbs, Led Light Bulb

                       

 

Importer of                                            :           Japan, China                                                                

 

Finance                                                 :           Present Working Capital – Rs.50.00 Lakhs (Approximately)

                                                                        Nepal Rs.

                                                                       

Sales (2011)                              :           Rs. 3.00 crores.                         Sales (2012)                                          Rs. 4.54 Crores

                                                                       

Projected Sales (2013)                           Rs. 5.20 crores.

 

                                                                        (Expected Sales (2013-2014) : Rs.6.00 Crores)

 

 

 

Trading Terms                                       :           Purchase          -           Cash, Credit

                                                                                                           

                                                                        Sales                -           Cash, Credit     

                                   

Remarks                                               :           Partners are well experienced and active.  Payments are

                                                                        Reported to be correct and regular as per commitment.

                                                                        Trade relations are fair.

 

 

INFORMATION PARTED BY

 

Name                           : Mr. Binay Thapa

Designation                  : Proprietor

Contact                        : 09856022609

Date                             : 22.06.2013

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.70

UK Pound

1

Rs.92.25

Euro

1

Rs.78.38

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.